NO. 721.–COURT OF SESSION, SCOTLAND (FIRST DIVISION).–

8TH MARCH, 1929.

Income Tax, Schedule D – Excess Profits Duty – Trade – Adventure in the nature of trade – Isolated transaction.

  The Appellant was a money-lender who was also in 1920 interested in a cinema company. He had since that time been interested in various businesses. Being in Berlin in 1920 on business connected with the cinema company, he was offered an opportunity of purchasing very cheaply a large quantity of paper. He effected the purchase and, within a short time after his return to this country, sold the whole consignment to one person at a considerable profit.

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